SET-listed tech and ICT solution provider Samart Corporation is hoping for a business turnaround this year as it aims to increase revenue by 75% to 16 billion baht, following positive sentiment and a group restructuring.
Watchai Vilailuck, executive vice-chairman of Samart, said 2023 will be the start of the firm's sustainable growth journey.
"We noticed several optimistic factors this year, including the country's reopening, efforts to stimulate the Thai economy and investment, the development of public services, and the improvement of organisations in the private sector," he said.
The company has three core business groups: digital ICT solutions operated by Samart Telcoms, a digital communications business run by Samart Digital (SDC), and a utilities and transport business operated by Samart U-Trans.
Revenue from the ICT solutions business grew 13% year-on-year in 2022. The digital communications business posted revenue growth of 60%, while the Samart U-Trans recorded 28% growth.
The company targets revenue of 16 billion baht this year, comprising 6 billion from Samart Telcoms, 5 billion from Samart U-Trans, and 5 billion from SDC, Mr Watchai said.
Samart has project backlogs worth 21 billion baht.
Jong Diloksombat, president of Samart Telcoms, said the firm was targeting growth of 14% this year.
Samart Telcoms provides various ICT solutions, such as enterprise resource planning systems, cybersecurity, smart CCTV, payment connection platforms, and transmission network solutions.
The firm aims to achieve 10 billion baht worth of new contracts this year.
Teerachai Phongpanangam, president of Samart Corp, said Samart U-Trans is expected to post further growth this year. Its business involves solutions and services linked with utilities and transport.
Cambodia Air Traffic Services (CATS), a business under Samart U-Trans that oversees the provision of air traffic and navigation services in Cambodia, is predicted to post revenue growth of 14% in 2023, said Mr Teerachai.
Samart U-Trans wants CATS's major shareholder Samart Aviation Solutions to list on the Stock Exchange of Thailand by the third quarter this year.
Supawas Promwitak, general manager of SDC, said the firm's digital trunked radio systems (DTRS) and the newly developed astrological services are the key businesses for generating recurring incomes in the new digital era.
The company's DTRS networks cover significant areas throughout the country, while the number of users joining the network is gradually increasing.
In 2023, the company plans to expand the services to cover at least 120,000 users.
SDC predicts the number of users will increasingly grow, especially when the National Trunk Network project is implemented.
The company also developed online astrological services known as Horoworld and Thai Merit, as well as services related to occult rites, known locally as Mutelu, to serve a new digital lifestyle for Thais.
"In 2023, the digital communication business is expected to bounce back with strong growth," said Mr Supawas.
